GLOBELEQ CONSORTIUM REACHES LEGAL CLOSE ON SOUTH AFRICA SOLAR PLANTS

LONDON and CAPE TOWN, South Africa, Dec. 8, 2022 /PRNewswire/ -- Globeleq, Africa's leading independent power company and the majority partner in the Ikamva Consortium (the Consortium), have reached legal close on six solar PV projects under the South African government's fifth bid window of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).

Achieving legal close means that power purchase agreements with Eskom, and implementation agreements with the Department of Mineral Resources and Energy (DMRE), have now been signed and the Consortium will continue to move the projects to commercial close.  Construction is expected to commence during 2023, with the solar projects expected to produce energy in 2025. 

The Consortium, led by Globeleq and Mainstream Renewable Power, were awarded Preferred Bidder status by South Africa's DMRE in October 2021, and continues to move all projects toward completion. The six 75MWac solar PV projects are all located in the Free State Province and will be the largest renewable energy development in the province to date.

Mike Scholey, CEO of Globeleq commented: "Africa's solar potential is enormous, and we commend the Government of South Africa for continuing to push the renewable agenda to provide clean and stable electricity to the grid and support the country's decarbonisation and renewable energy targets."

Jonathan Hoffman, Chief Development Officer for Globeleq, added: "Globeleq has a strong track record of successfully delivering and operating large-scale solar projects in South Africa. We are committed to adding further clean and sustainable electricity generation to help address South Africa's significant energy needs, support their Just Energy Transition Partnership and deliver jobs and skills development."

Construction of the Free State Province solar projects will:

• Create approximately 1,800 construction positions across the six projects during the 24 months construction period.  Once operational, approximately 42 permanent positions across the six projects will be created. Job opportunities during development and construction will be focused on supporting local communities.
• Avoid on average of 1,350,000 metric tons of greenhouse gas emissions annually.

About Globeleq

Globeleq is the leading developer, owner and operator of electricity generation in Africa. Since 2002, its experienced team of professionals have built a diverse portfolio of independent power plants, generating more than 1,500 GW in 14 locations across 6 countries, with a further 722 MW in construction and more than 2,000 MW of power projects in development.  More details on www.globeleq.com.

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